Abundance Wealth Counselors Sells 24 Shares of Hubbell Incorporated (NYSE:HUBB)

Abundance Wealth Counselors reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,532 shares of the industrial products company’s stock after selling 24 shares during the period. Abundance Wealth Counselors’ holdings in Hubbell were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Hubbell during the 3rd quarter worth $33,000. Versant Capital Management Inc boosted its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC bought a new stake in Hubbell in the 3rd quarter valued at about $41,000. Quarry LP bought a new position in shares of Hubbell during the second quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the third quarter valued at approximately $58,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of HUBB opened at $422.94 on Friday. Hubbell Incorporated has a one year low of $334.17 and a one year high of $481.35. The company has a market cap of $22.70 billion, a PE ratio of 30.47, a P/E/G ratio of 1.43 and a beta of 0.93. The stock has a 50-day moving average of $439.29 and a 200-day moving average of $421.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.95 EPS. On average, equities research analysts predict that Hubbell Incorporated will post 16.48 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.25%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, Barclays upped their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $471.50.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.